September in the crypto market Bitcoin It is described as a month of selling pressure and decline for. However, in this process, September is expected to be the beginning of change for the cryptocurrency market, and this may lead to the start of an important process for altcoins. Let’s examine together three important altcoin projects that may leave their mark on September.
MAKER Graphic Analysis
MakerDAO will gain a new identity and a new token. On September 18, the new stablecoin USDS and governance token SKY will be launched, which means a big change for the network. This is expected to trigger a rally for the current native token MKR. Since MKR can be exchanged for 28,000 SKY tokens, investors may try to invest in MKR. This will most likely start a significant process to make a profit and eventually sell after the launch of SKY. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
As a result, the MKR price is likely to rally from the $1,693 support level and test the $2,188 resistance. The altcoin has been consolidating in this range throughout August. A potential rally from the crossover could lead to a rally to $2,556.
MATIC Graphic Analysis
Like Maker Polygon will also be moving its native token from MATIC to POL. The long-awaited move will replace its current native crypto asset with POL as the primary transaction fee and staking token. Following the switch on September 4, the MATIC price could begin to recoup its recent 26% decline. This could result in the altcoin reclaiming the $0.50 support and reaching a two-month high.
This could provide a rally above $0.60 for MATIC, which could take it on a journey towards $0.75. This level is unlikely to be breached as a wave of profits could prompt investors to sell their holdings for profit.
EOS Chart Analysis
EOS The network will begin preparing for its next major upgrade, Spring 1.0. The hard fork is crucial to the network as it will introduce the Savanna algorithm, a new consensus method for EOS. The stable release of Spring 1.0 is scheduled for September 4, with the hard fork scheduled for September 25. Anticipation of this upgrade could boost the price of EOS, which recently dropped 11% in three days.
The EOS price drop has almost wiped out the recovery since the 23% sell-off in July. In order for the altcoin to recover these losses, it will first need to turn the $0.557 support into a bull market, which it has not done recently. The bull market development could fuel this rally and start a rally that will push EOS above $0.605.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
